Regulation 17 Records relating to reimbursement arrangements: keeping and productionI1

United Kingdom Not yet in force

(1)

A claimant must keep records of the following matters—

(a)

the name and address of each person that a claimant has reimbursed or that a claimant intends to reimburse,

(b)

the total amount reimbursed to each person,

(c)

the amount of interest included in the total amount reimbursed to each person, and

(d)

the date that each reimbursement is made.

(2)

A claimant must preserve the records for the period of 6 years beginning with the later of—

(a)

the last day of the accounting period to which the records relate, or

(b)

the day on which a claimant makes the reimbursement to which the records relate.

(3)

Where an officer of Revenue and Customs gives a claimant notice in accordance with paragraph (4) below, a claimant must, in accordance with such notice, produce to the Commissioners or to an officer of Revenue and Customs the records that a claimant is required to keep pursuant to paragraph (1).

(4)

A notice^f1 given for the purposes of paragraph (3) must be in writing and specify—

(a)

the date on which and the place and time at which records are to be produced for inspection, or

(b)

the date on which and the manner by which records are to be produced by delivery.

(5)

All records referred to in this regulation must be kept and preserved in writing.

Annotations

Commencement

I1: Reg. 17 in force at 1.1.2027, see reg. 1(2)

Footnotes

f1: Service of such a notice is provided for in Part 13 of Schedule 17 to FA 2026.